AllianceBernstein Income Fund (NYSE:ACG) is a closed-end bond fund trading at historically wide discount, currently around 15%, to its net asset value. Therefore, one can invest $6.98 today and receive the investment returns on $8.26 in net assets. The underlying assets of the fund are invested mainly in U.S. Treasury bonds as well as investment and non-investment grade debt. Given the rise in interest rates in 2013 and the strong equity markets, there has been a general investor shift from bond funds to equity ones. Consequently, there are many closed-end bond funds trading at discounts to net asset value. What makes ACG different from other funds and the reason it is a compelling investment today is that ACG...
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